We’re excited to announce that Liquibit Capital, a quantitative-driven investment management company, has chosen Fordefi as their MPC wallet to securely support trading strategies on dYdX, a decentralized exchange platform. Liquibit Capital was seeking an MPC wallet with secure DeFi connectivity in addition to a partner, committed to supporting dApps and protocols, both now and through future chain migrations and ecosystem expansion.
“We’re very excited to be working with Fordefi, enabling our trading desk to transact on dYdX with full security support. The level of attentiveness we’ve received from Fordefi’s team has been above and beyond,” said Gray Webb, CTO and Cofounder of Liquibit Capital. “The quality of Fordefi’s wallet platform, in addition to the professionalism displayed by Fordefi’s team, ensured us that both Fordefi’s solution and team were the right fit to help us achieve our business goals.”
Liquibit Capital - Quantitative Digital Assets Hedge Fund Manager
Liquibit Capital was founded in 2019. The co-founders, Joseph Chang as Chief Investment Officer and Gray Webb as Chief Technology Officer, brought decades of institutional experience and expertise in both equities and derivatives trading strategies. With Liquibit Capital, the goal of their flagship Market Neutral Arbitrage Fund is to produce consistent, yield-like returns using a systematic, quantitative strategy that taps into opportunities across both decentralized protocols and centralized exchanges.
“Working with the Liquibit Capital team to securely provide liquidity to markets on-chain has been an exciting and fruitful experience. Providing secure infrastructure to institutional clients is our top priority and we look forward to expanding this relationship.” said Steve Horvath, VP of Sales at Fordefi.
Liquibit Capital Wallet Challenges
As a digital assets hedge fund, Liquibit Capital employs a range of trading strategies that include DeFi-specific opportunities. The trading desk at Liquibit Capital had previously executed strategies through dYdX, the most widely used decentralized derivatives trading platform in DeFi. However, due to various security concerns, operations were suspended until a more secure wallet solution could be identified.
Fordefi has been committed to supporting our clients with secure dYdX connectivity, as exemplified by the integration with StarkEx, “Fordefi and StarkWare Announce Integration Unlocking Institutional Access to StarkEx DApps”, leading to Fordefi being the first institutional wallet to support StarkEx dApps with MPC signing. This work made it clear for Liquibit Capital to identify Fordefi as an option that could help their trading desk get back on dYdX without compromising their operations, a solution that no other MPC wallet platform currently provides.
Liquibit Capital’s Wallet Shopping List
- Native wallet integration for dYdX
- Institutional-grade MPC custody
- Self-serve key back-up process
- Responsive and timely customer support
Why Liquibit Capital Chose Fordefi’s Wallet Platform
After testing different providers over the course of several years, Liquibit Capital upgraded to Fordefi’s next generation wallet platform to securely enable their DeFi operations. Liquibit Capital chose Fordefi for two key reasons: native DeFi connectivity and responsive customer support. Fordefi’s unified platform, dedicated customer support, and commitment to DeFi, made it stand out amongst other providers. Liquibit Capital and Fordefi are excited to be working together towards an aligned commitment to the growth of DeFi.
For more information on how Fordefi’s MPC wallet and security platform can enable your business to safely transact in DeFi, reach out to sales@fordefi.com today.
